Feb 15, 2023 · Regulatory information
Waupaca Foundry have successfully used Ironhand to reduce injuries at their site in Marinette, WI, USA. With proven results Waupaca have decided to proceed a roll out at additional three sites, totaling a number of 60 Ironhand systems to be actively in use during the second quarter. The additional 30 Ironhand systems to be used in the phase 2 roll out are sold at an order value of MSEK 1,8 MSEK
Waupaca Foundry, Bioservo, and Rhino Tool House have successfully concluded a seven-month partnership project where 30 Ironhand systems have been used, primarily for grinding operations, at their site in Marinette, Wisconsin, USA. The project objective was to validate the Ironhand system for use in the challenging foundry environment and to prepare for a wider implementation across all Waupaca sites.
The trials have showed very promising results. Employees have testified about reduced fatigue and less pain in their hands and arms after work, and the ergonomic risk reports generated by Ironhand show reduced force levels when performing the work tasks. Additionally, an OSHA (Occupational Safety and Health Administration) Incident Rating report from the trial period shows that the incident rate is 75% lower than for comparable sites and 5% lower than for companies within the manufacturing industry in general. The conclusions from Health & Safety officials are that reason for the significant drop of incident rate is driven by less fatigue in hands and increased awareness of incident risks through usage of Ironhand.
While technology has improved for the last 25 years, with a goal of reducing manual casting processing, its proven difficult to completely eliminate handling iron castings as part of the daily job. The Bioservo technology bridges the gap between manual processing and total automation.
“We are excited over the fantastic results at Wauaca Foundry and are pleased that they have decided to roll out Ironhand to more sites. We believe that there are many workplaces within the foundry industry and other industries with grip intensive work tasks that would have the same benefits of using Ironhand” says Petter Bäckgren, CEO at Bioservo.”
For more information, please contact
Petter Bäckgren, CEO of Bioservo Technologies AB
Phone: +46 (0)8 21 17 10
Mikael Wester, Marketing Director, Bioservo Technologies AB
Phone: +46 (0)8 21 17 10
The information in this press release is such that Bioservo Technologies AB (publ) is obliged to publish in accordance with EU Regulation on Market Abuse (MAR). The information was submitted for publication through the agency of above contact persons for publication on 15 February 2023 at [08:30] a.m. CEST.
About Bioservo Technologies
Bioservo Technologies AB (publ) is a world leading company in wearable muscle strengthening systems for people in need of extra strength and endurance. All our innovative products and systems are designed to keep people strong, healthy and efficient. The company has a unique global position within soft exoskeleton technology for the hand, both for industrial applications to improve the health for workers and to improve quality of life for people with reduced muscle strength. Bioservo Technologies was founded in 2006 in collaboration between researchers at the Royal Institute of Technology and a doctor at Karolinska University Hospital. Bioservo Technologies is a Swedish public limited company with headquarters in Stockholm.
FNCA Sweden AB, +46(0)8-52800399, email@example.com is the company’s Certified Adviser on Nasdaq First North Growth Market.
For more information, please visit www.bioservo.com